In this Zcash technical analysis, we will examine the current price action, trading volume, key levels and indicators for ZEC-BTC. Zcash (ZEC) is a cryptocurrency that focuses on privacy and anonymity, allowing users to make transactions without revealing their identities or the amounts being transferred. Zcash uses advanced cryptographic techniques such as zero-knowledge proofs and homomorphic encryption to protect user data and transaction information. With its emphasis on privacy and security, Zcash aims to provide a more secure and private alternative to other popular cryptocurrencies like Bitcoin and Ethereum.
Zcash Price Overview:
As of October 02, 2023, Zcash is trading at approximately 0.00098 BTC. Let’s dive into the detailed price action for ZEC-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.001 |
| High (H) | 0.00101 |
| Low (L) | 0.00097 |
| Close (C) | 0.00098 |
| Volume (C) | 10,041.58 |
- Open (O): The opening price for today’s trading session was approximately 0.001 BTC.
- High (H): Zcash reached a daily high of around 0.00101 BTC.
- Low (L): The daily low for ZEC-BTC was approximately 0.00097 BTC.
- Close (C): At the time of analysis, Zcash is trading near its daily close of 0.00098 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.39% |
| 3D Change (%) | -1.21% |
| 7D Change (%) | -1.21% |
| 30D Change (%) | 2.40% |
| 90D Change (%) | -8.92% |
| YTD Change (%) | -56.54% |
Over the past three days, ZECBTC has dropped by approximately -1.21%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -1.21%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ZECBTC maintaining an upward trend of approximately 2.40%, despite intermittent fluctuations. Examining the last 90 days, ZECBTC has witnessed substantial fall of approximately -8.92%, reflecting strong long-term confidence. Year-to-date, ZECBTC has steadily declined by around -56.54%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Zcash Live Chart:
You can access a live price chart for ZEC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.23185.
- Momentum score is 0.02403.
ZEC BTC Technical Analysis
Zcash Trading Volume:
The trading volume for Zcash (ZEC) over the past 24 hours has been significant, with approximately 10,041.58 BTC traded against ZEC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ZEC is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Zcash is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ZEC-BTC is currently in the neutral zone, around 49.29585. This suggests that Zcash is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Zcash (ZEC-BTC) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
